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Am I the only one who thinks that entering right into the opening of the next candle is like going by bike blindfolded? I prefer to use a limit order slightly lower/above the closing and let the price give me better entry. Not all are activated, but those that do, usually go straight to the target.
Someone asked why I only use older couples because they have more liquidity, less spreads and less scares. Let�s see, if you want adrenaline, operate NOK/SEK, but don�t come crying when you skip the stop for a 12-pipe spread.
I'm seriously considering automating this system with a basic script. You don't need a complicated EA, just reading the logic of the closures and running the command with TP and SL according to the ATR. For those who don't know how to program, using something like Pine Script in TradingView could be the perfect starting point. I leave the idea there.
The problem for many here is that they think of the individual trade as if it were the whole. No, friend. This is about how the system behaves after 100 trades. A system that loses 4 in a row and wins 5� with twice the profit is profitable. But of course, that requires discipline, not impulsivity.
I am integrating this with a London Breakout approach. I only operate breaks within two hours of the opening of London. It seems to improve the quality of signals, especially in pairs such as GBP/USD and EUR/JPY. We will continue testing.
If someone wants to contribute, do it with data, not with empty opinions. I think it doesn�t work because it�s very simple it�s not worth it. Bring your Excel, your captures and your results. If not, you better keep looking.
I put in a rule where I only operate if the breaker candle has more than 50% body (not counting fuses)
What if this is only used on Mondays and Wednesdays? I have noticed that breaks in those days tend to be cleaner. Fridays and Tuesdays are no man�s land. If anyone has tried it, let them say something.
I know some people don�t like to get complicated, but I�m thinking of including a 20-period moving average to avoid taking trades against trend. It would be a simple thing: if the price is above, only long. If it�s below, only short. Trades are lost, but many crazy things are also avoided.
I don't know who needs to hear this, but backtest visual is NOT real backtest. If you haven't tested this with historical data and managed tickets as if it were live, your results are worth the same as an air coin.